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Oct 30, 2012
10/12
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our first responders have been doing a heroic job protecting our city and saving livings, and they are still fighting fires and conducting life-saving search and rescue missions, and we owe them an enormous debt of gratitude. the storm brought something like 23 serious fires to parts of staten island, brooklyn, queens, as well as city island and the bronx. a terrible fire on breezy point is now under control, but we believe we lost more than 80 houses. the search and recovery operations there are ongoing, and if any of you saw the pictures on television it looked like a forest fire out in the midwest. the winds were just devastating, blowing from one building to the next one, and those buildings were close together. we are hoping and praying that there was no loss of life in those fires, but even we can -- even if we can save every life we know that many people have lost their homes, and i want to know -- them to know that we have -- they have our full support in the days and weeks ahead. the 76 shelters we opened will remain open today, and we will continue to keep shelters open until
our first responders have been doing a heroic job protecting our city and saving livings, and they are still fighting fires and conducting life-saving search and rescue missions, and we owe them an enormous debt of gratitude. the storm brought something like 23 serious fires to parts of staten island, brooklyn, queens, as well as city island and the bronx. a terrible fire on breezy point is now under control, but we believe we lost more than 80 houses. the search and recovery operations there...
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Oct 18, 2012
10/12
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>> i guarantee you, we will organize under the first amendment everybody in here and bring the wrath of god into this chamber and power back to the people. >> reporter: other cities have already sold their mineral rights. in scio, ohio, the money from drilling will pay for new sidewalks, water treatment, and perhaps give the town a shot in the arm. >> a few years ago, every storefront just about was empty. now there's new business coming in. >> reporter: as cities struggle with tight budgets, a windfall of millions of dollars trapped under public lands is a tempting capital to their cash crunch. >> this is something that could help the area not only now but 10, 20, 50 years from now, just like when the steel mills came here. >> reporter: back live in youngstown, ohio, and they are almost done take ying down this entire house, carl. to remove a house like this costs anywhere between $7,000 and $800. a quick update, late last night the youngstown city council did agree it would sell its mineral rights, or at least explore selling its mineral rights. it's interesting to see how much the
>> i guarantee you, we will organize under the first amendment everybody in here and bring the wrath of god into this chamber and power back to the people. >> reporter: other cities have already sold their mineral rights. in scio, ohio, the money from drilling will pay for new sidewalks, water treatment, and perhaps give the town a shot in the arm. >> a few years ago, every storefront just about was empty. now there's new business coming in. >> reporter: as cities...
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Oct 31, 2012
10/12
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taking a look at other parts of atlantic city as you can probably see from my shot, it's the first day without major wind and rain meaning that now crews are able to get out and start picking up the wreckage. we've seen bulldozers around town. some streets closed and many residents we spoke to got power back this morning at around 7:00 a.m. thus allowing them to get pumps to move them to their houses and to begin pumping out some of the water that had flooded mostly basement levels here in atlantic city. that being said, even amid all of the residents here in atlantic city getting power back, still more than 2 million residents of new jersey don't have power. many running on generators which of course will not last forever. the big question is how long most of new jersey will be without power. the story continues. we're waiting for president obama and governor christie's arrival. that will be an interesting bipartisan moment here in atlantic city. >> that fire hydrant picture is stunning. scott cohn, you're in a part of manhattan that's described as two different cities right now. that
taking a look at other parts of atlantic city as you can probably see from my shot, it's the first day without major wind and rain meaning that now crews are able to get out and start picking up the wreckage. we've seen bulldozers around town. some streets closed and many residents we spoke to got power back this morning at around 7:00 a.m. thus allowing them to get pumps to move them to their houses and to begin pumping out some of the water that had flooded mostly basement levels here in...
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Oct 15, 2012
10/12
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we also have citi holdings which declined to $171 billion, the first time that the so-called bad bank has comprised less than 10% of citi's balance sheet. the cfo said it's not small enough yet to dissolve back in the bank in the near term. we had a depar tour for citigroup from what jpmorgan's jamie diamond and wells fargo said was a turning point. for citigroup housing shows a different story. mortgage originations though they're up 12% from last quarter, they went down 15% from a year ago. during that same time mortgage related revenues went up some 35% in the u.s. retail banking unit. big questions there on the media call as to why that was happening, but for citi, which ranks fifth for u.s. mortgage origination, the activity remains strong but the upswing in revenues is largely because of heavy refinancing activity. spreads are widening because they're maintaining higher mortgage rates. citi is not looking to gain more share in mortgage refinancing and he actually expects some compression on mortgages in the u.s., but that's a different approach from jpmorgan and wells who were m
we also have citi holdings which declined to $171 billion, the first time that the so-called bad bank has comprised less than 10% of citi's balance sheet. the cfo said it's not small enough yet to dissolve back in the bank in the near term. we had a depar tour for citigroup from what jpmorgan's jamie diamond and wells fargo said was a turning point. for citigroup housing shows a different story. mortgage originations though they're up 12% from last quarter, they went down 15% from a year ago....
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Oct 3, 2012
10/12
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and while northern california may be heading into these emergencies first, plenty of cities in so cal are in the congo line. she is buying things that you can understand and which pitch and obligations are not the main 800 pound gorilla. and not all news is bad. s&p just raised l.a. county's credit credit to go aa from aa minus. that is if you believe such things. back to you. >> i like that congo line imagery. that's a good one. >>> when we come back, is your cell phone bill eating up your budget? a new company promises to save you hundreds of dollars a year by making data free. that's right. we'll get all the details on freedom pop from the company ceo next. for 30 some years at manyendent different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. insulifreestyle lite can. help you test easy. they need a third the blood of onetouch ultra. zipwik tabs target the bl
and while northern california may be heading into these emergencies first, plenty of cities in so cal are in the congo line. she is buying things that you can understand and which pitch and obligations are not the main 800 pound gorilla. and not all news is bad. s&p just raised l.a. county's credit credit to go aa from aa minus. that is if you believe such things. back to you. >> i like that congo line imagery. that's a good one. >>> when we come back, is your cell phone bill...
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Oct 16, 2012
10/12
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talking about the good citi quarter. a lot of the stock was up 5%, a lot of anticipation about what may be ahead. you wake up 24 hours later, ceo out, no discussion of this at all. i mean it just continues to add to this sort of casino mentality of what happens in the overall equity market. so a macro standpoint important to recognize, this will be another concern for retail investors of why the stock market is nothing more than a casino. now, let's go through what i have heard today. number one, there's a couple things to point out. remember that michael neil was brought in specifically to deal with the regulators. the regulators maria pointed out and many guests pointed out have a very important role in not just capital allocation but the overall strategy of the bank. it's also important, you had sheila bair on earlier today. i'm talking to a number of meme inside of citi that the excerpts of that book and some of the stuff she had said in her book specifically personal tax of vikram pandit, that book came out i believ
talking about the good citi quarter. a lot of the stock was up 5%, a lot of anticipation about what may be ahead. you wake up 24 hours later, ceo out, no discussion of this at all. i mean it just continues to add to this sort of casino mentality of what happens in the overall equity market. so a macro standpoint important to recognize, this will be another concern for retail investors of why the stock market is nothing more than a casino. now, let's go through what i have heard today. number...
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Oct 2, 2012
10/12
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this is the first case brought by the working group but not likely the last are others on wall street quaking in their boots? diana olick asked the ceo of citi mortgage about the suit a short time ago. >> we don't know whether this will hit citi bang k at all. we think not because of what we've done to mitigate the issues substantially. >> jpmorgan wound up owns bear stearns at the behest of the feds in 2008 says it plans to contest the case and is disappointed in the attorney general. judge is eric going after conduct in a firm essentially dead? we will ask him first on cnbc on power lunch at 1:00 p.m. eastern time. carl, back to you. >> that is a key question, scott. reading that complaint, if people haven't already, bringing bam colorful language from days we'd rather forget. we look forward to a lot more today. scott, thanks so much. our capital markets, and we have gary cominski to post-9 once again. >> good thing we have an op ed logo today. you pick up the papers today, "wall street journal," "new york times," you have the headlines about this. the headlines should read the fol
this is the first case brought by the working group but not likely the last are others on wall street quaking in their boots? diana olick asked the ceo of citi mortgage about the suit a short time ago. >> we don't know whether this will hit citi bang k at all. we think not because of what we've done to mitigate the issues substantially. >> jpmorgan wound up owns bear stearns at the behest of the feds in 2008 says it plans to contest the case and is disappointed in the attorney...
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Oct 29, 2012
10/12
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however, we have also opened 76 emergency shelters in city public schools for those who did not have that option. they are still -- >> that is yor mayor mike bloomberg. the headline essentially that he is closing new york city schools for the second day saying there is, quote, no chance that mass transit will be ready to get people to and from work or school around the city. saying the fdr highway is fundamentally closed in his words. looks like the storm surge according to the mayor will hit at least in the new york city area around -- starting around 8:00 or 8:15 p.m. tonight. he's looking for storm surge between 6:00 and 11:00 p.m. jim, obviously we're not a local channel. our news goes around all of the country and around the world. but this is turning into a storm that new york city for most intents and purposes is going to own. we are in the worst spot. >> this reminds me of the 1992 hurricane andrew. i'm not going to minimize what could happen. health, loss of life. but that was worse in some ways than katrina was the gdp event. because katrina kind of localized. it was a gros
however, we have also opened 76 emergency shelters in city public schools for those who did not have that option. they are still -- >> that is yor mayor mike bloomberg. the headline essentially that he is closing new york city schools for the second day saying there is, quote, no chance that mass transit will be ready to get people to and from work or school around the city. saying the fdr highway is fundamentally closed in his words. looks like the storm surge according to the mayor will...
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Oct 23, 2012
10/12
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western digital reporting a first quarter bead. weak pricing and delays because of windows 8. you can see today it gets a sell rating over at capital iq on the back of those earnings. and seagate technologies reports next week, and it's suffering clit ral damage there. >> thanks a lot, bertha. today's selloff started overseas, and now there's only a few moments left in europe's trading day. going to be interesting to see how it affects us here in the u.s. >>> simon hobbs, art cashin made the point earlier on, if you need to sell, sometimes you go where the market is still open. >> interesting. maybe that's what happened. europe through the selloff until this point has been open, and what we've seen here in the united states has ensured there has been greater selling on the other side of the atlantic. just have a look at the chart. the beginning of the session was all about the struggle that those involved in the real economy, those involved in the backbone arguably of the economy, engineering, metals, energy -- the struggle that they are having with their earnings as arguably
western digital reporting a first quarter bead. weak pricing and delays because of windows 8. you can see today it gets a sell rating over at capital iq on the back of those earnings. and seagate technologies reports next week, and it's suffering clit ral damage there. >> thanks a lot, bertha. today's selloff started overseas, and now there's only a few moments left in europe's trading day. going to be interesting to see how it affects us here in the u.s. >>> simon hobbs, art...
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Oct 9, 2012
10/12
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thousands of police around the city. simon hobbs, that did not stop the protesters at all. >> absolutely. i will show you three symbolic acts as the most dominant figure in the european crisis went to the economy that the critics argue she is destroying through austerity. this is probably what will be on the front paging tomorrow morning. on the square next to parliament four people dressed in military uniforms riding and waving black and white and red swastika flags and stuck their hands out in a nazi salute. a lot of banners reading merkel out, this is not a european union, this is slavery. this is an image with huge potency around europe. the second is angela merkel at the news conference stood next to the greek prime minister. symbolic for two reasons. on the one hand she is saying i am a good european and i won't force you out of the eurozone. we have given you lots of money and on the second, particularly important, at home she is saying there will be no more money for you. this isn't a transfer union. there you se
thousands of police around the city. simon hobbs, that did not stop the protesters at all. >> absolutely. i will show you three symbolic acts as the most dominant figure in the european crisis went to the economy that the critics argue she is destroying through austerity. this is probably what will be on the front paging tomorrow morning. on the square next to parliament four people dressed in military uniforms riding and waving black and white and red swastika flags and stuck their hands...
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Oct 19, 2012
10/12
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first of all i didn't deal much with pandit, i met him a couple of times. citi group was very fortunate in dealing with treasury and our office most of it was done by one of the vice presidents at citi and lou caden had a keen political ear and instinct how to deal with treasury. we had no difficulty with citigroup at all. >> an interesting time in banking in this country. appreciate your fwidance. see you soon. >> any time. >>> markets continue to decline. dow is down 133. the big weakness on the dow continues to be names that reportedly are mcdonald's, microsoft and ge and now aig joining the ranks of companies that are down almost 4% in their case. when we come back it's been 25 years since the stock market crash known as black monday. we'll talk to the man who helped make sure all those trades at the cme actually got leader that day, the former chairman of the cme, jack sander. you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is not for use in women or anyone younger than
first of all i didn't deal much with pandit, i met him a couple of times. citi group was very fortunate in dealing with treasury and our office most of it was done by one of the vice presidents at citi and lou caden had a keen political ear and instinct how to deal with treasury. we had no difficulty with citigroup at all. >> an interesting time in banking in this country. appreciate your fwidance. see you soon. >> any time. >>> markets continue to decline. dow is down 133....
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Oct 26, 2012
10/12
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still to come, a vegas first. a shower infused with vitamin c arriving in sin city today. >> how does that help you? >> would you pay 20% to 30% more to stay in a hotel designed for the health conscious traveler? we'll take you live inside the debut of the wellness rooms at the mgm grand next.wo . and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. it's just common sense. mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace
still to come, a vegas first. a shower infused with vitamin c arriving in sin city today. >> how does that help you? >> would you pay 20% to 30% more to stay in a hotel designed for the health conscious traveler? we'll take you live inside the debut of the wellness rooms at the mgm grand next.wo . and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a...
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Oct 17, 2012
10/12
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i didn't know if it would be the first or i would open up the debate. i just felt a lot of pressure. >> so i have to ask you, they both gave you pretty -- i mean, pretty interesting answers, at least. governor romney made it interesting to see he was going to come back, make sure you had a job in a couple of years. which answer did you prefer? >> well, governor romney, he really harped on the fact that he has business experience and that he has been balancing the budget while he was governor of massachusetts and president obama's was the one who was saying that my future is bright, he's going to build on the 5 million jobs he created. they spoke spoke passionately, they articulated themselves very well. i think governor romney's business experience did sway me a bit in that area. but the way the president spoke to me and kind of said we believe in the youth of america, which i was trying to represent with my question, i think that really, you know, hit a soft spot and i understood what he was talking about. >> that's what a lot of people talked about, t
i didn't know if it would be the first or i would open up the debate. i just felt a lot of pressure. >> so i have to ask you, they both gave you pretty -- i mean, pretty interesting answers, at least. governor romney made it interesting to see he was going to come back, make sure you had a job in a couple of years. which answer did you prefer? >> well, governor romney, he really harped on the fact that he has business experience and that he has been balancing the budget while he was...